Norden Group LLC Purchases Shares of 7,947 CSX Co. (NASDAQ:CSX)

Norden Group LLC acquired a new position in CSX Co. (NASDAQ:CSX) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 7,947 shares of the transportation company’s stock, valued at approximately $276,000.

Several other hedge funds have also recently made changes to their positions in CSX. Fortitude Family Office LLC purchased a new stake in CSX in the fourth quarter worth about $27,000. Life Planning Partners Inc purchased a new position in shares of CSX in the 4th quarter valued at approximately $27,000. Venturi Wealth Management LLC boosted its holdings in shares of CSX by 228.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 995 shares of the transportation company’s stock valued at $31,000 after buying an additional 692 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of CSX in the 4th quarter worth about $34,000. Finally, Avion Wealth increased its stake in shares of CSX by 450.5% in the 4th quarter. Avion Wealth now owns 1,002 shares of the transportation company’s stock worth $35,000 after acquiring an additional 820 shares in the last quarter. 73.57% of the stock is owned by hedge funds and other institutional investors.

CSX Stock Down 0.1 %

CSX opened at $33.20 on Thursday. The stock has a market capitalization of $64.90 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 1.99 and a beta of 1.19. The firm has a 50 day moving average price of $36.41 and a 200-day moving average price of $34.53. CSX Co. has a twelve month low of $29.03 and a twelve month high of $40.12. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 1.42.

CSX (NASDAQ:CSX) last announced its earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. CSX had a net margin of 24.75% and a return on equity of 29.58%. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same period in the previous year, the business earned $0.48 EPS. The company’s quarterly revenue was down .8% compared to the same quarter last year. Equities research analysts forecast that CSX Co. will post 1.95 earnings per share for the current year.

CSX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a dividend of $0.12 per share. The ex-dividend date was Wednesday, February 28th. This represents a $0.48 annualized dividend and a dividend yield of 1.45%. This is a positive change from CSX’s previous quarterly dividend of $0.11. CSX’s dividend payout ratio is presently 26.37%.

Wall Street Analysts Forecast Growth

CSX has been the topic of several research reports. Jefferies Financial Group dropped their price objective on shares of CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a research note on Thursday, April 18th. StockNews.com downgraded CSX from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Stifel Nicolaus lifted their price objective on CSX from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Bank of America cut their target price on CSX from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Finally, Raymond James lifted their price target on CSX from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 16th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $38.00.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.